Saturday, July 26, 2008

Fannie Mae and Freddie Mac are expected to report losses again in the third quarter. So are WaMu and regional bank National City

Banks brace for more pain

Cooling credit fears Heading into this earnings season, banks were dogged by the twin investor fears of credit and capital. Analysts were betting that banks would once again have to beef up their loan loss reserves as the housing market deteriorated further and as the U.S. economy continued to sputter. Banks did just that. At the same time, nonperforming assets and net charge-offs, or loans banks don't think are collectable, continued to rise.

Posted by malct @ 02:44 PM (581 views)
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